Instant access savings accounts rates are changing all the time and so it pays to shop around if you are looking for a competitve deal for your hard earned savings.

It is important when comparing deals on easy access or instant access savings accounts that you need to look beyond the headline rate as some accounts have conditions which apply which may not suit your requirements.

Many savings deals pay a bonus which is only paid after a set period and rules may apply to how many withdrawals you can make during the year.

Latest instant access savings account deals

Many of the leading instant access savings account deals available are online accounts. The Post Office Online Instant Access Saver is currently paying a competitive 3.17% Gross AER which includes a 1.52% gross AER fixed bonus after 12 months with a monthly interest option. Accounts can be opened with £1.

The Nationwide MySave easy access account offers a comparable rate of 3.17% gross/AER but with a minimum deposit of £1,000 and with the bonus paid after 12 months fixed at 1.62% gross/AER.

For new customers, the ING Direct Savings Account offers a variable rate of 3.10% gross/AER including a 2.56% gross per annum bonus fixed for 12 months and withdrawals can be made at any time without charge. 

The Derbyshire Building Society NetSaver Issue 3 for savers who have a minimum deposit offers a rate of 3.06% gross/AER which includes a fixed bonus of 2.06% gross p.a. paid until June 2013. Withdrawals can be made at any time without penalty.

The Scottish Widows Bank Direct Transfer account pays 2.80% gross/AER which includes a 0.89% gross AER fixed bonus paid after 12 months. The account has no withdrawal penalties and as well as being managed online it can be operated by post or telephone. There is a minimum opening deposit requirement of £1,000.

To compare instant access savings accounts see our table below. For savers who can afford to tie up capital for longer, it is worth considering fixed rate bonds which provide terms typically from 1 to 5 years. 

No news, feature article or comment should be seen as a personal recommendation to invest. If you are in any doubt as to the suitability of a particular investment you should seek independent financial advice.

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